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Sales of new homes dropped 14.8% in January in their biggest decline in eight years, according to the U.S. Commerce Department.

In the largest monthly increase on record, existing single-family home sales surged in January and reached an unprecedented monthly high of more than 6 million units.

Domco Tarkett Residential has announced its Get R.E.A.L. spring promotion to support its new lines of resilient sheet flooring--Domco Vintage and Tarkett Contours.

Honeywell’s board of directors has elected David M. Cote, 49, to serve as president, CEO and member of the board effective immediately. He succeeds Lawrence A. Bossidy, 66, who will remain chairman and a member of the Board of Honeywell until he retires on June 30, 2002.

The nation’s recession could be over, according to some economists.

The Conference Board recently announced that the U.S. leading index increased by 0.6%, the coincident index held steady, and the lagging index decreased by 0.2% in January.

BP’s Amoco Fabrics and Fibers Co. recently announced the formation of a new supply chain organization.

Interface Inc. recently reported a fourth-quarter loss, including a $2.9 million restructuring charge.

DuPont Textiles and Interiors (DTI) and Ciba Specialty Chemicals have announced a global business alliance to develop new combined offerings for the DTI portfolio of brands.

The number of U.S. housing starts in January jumped 6.3% to their highest pace in almost two years, according to a recent U.S. Commerce Department report.